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The Colombian economy owes its growth to investment and steady exportation, following the economic downfall caused by the pandemic. However, as inflation rises, it is predicted that investment will slow down due to the global economic crisis. Nevertheless, the growth of the Colombian economy has expanded novel areas of IP practice. For example, WIPO recently published a new patent manual in the Andean region relating to inventions in the computer science industry. Additionally, given the comparative growth in Colombia in the field of artificial intelligence, many practitioners are shifting their focus to the industry. Following the presidential elections of 2022, stakeholders hope that the new government will develop IP legislation to speed up the patent granting process and improve financial accessibility.
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